Segall Bryant & Hamill LLC Makes New $367,000 Investment in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Segall Bryant & Hamill LLC bought a new stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 56,501 shares of the company’s stock, valued at approximately $367,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Cytek Biosciences by 280.3% during the fourth quarter. GAMMA Investing LLC now owns 4,932 shares of the company’s stock worth $32,000 after purchasing an additional 3,635 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Cytek Biosciences by 111.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company’s stock valued at $57,000 after buying an additional 4,665 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Cytek Biosciences during the 4th quarter worth approximately $71,000. Cibc World Markets Corp acquired a new stake in shares of Cytek Biosciences during the 4th quarter worth approximately $74,000. Finally, Bailard Inc. bought a new position in Cytek Biosciences in the fourth quarter valued at approximately $123,000. 69.46% of the stock is owned by institutional investors and hedge funds.

Cytek Biosciences Stock Performance

NASDAQ CTKB opened at $4.00 on Friday. The firm’s fifty day moving average price is $4.92 and its two-hundred day moving average price is $5.58. The stock has a market cap of $512.39 million, a PE ratio of -49.99 and a beta of 1.41. Cytek Biosciences, Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $7.63.

Cytek Biosciences declared that its Board of Directors has initiated a share repurchase program on Monday, December 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTKB. Stephens reiterated an “overweight” rating and issued a $6.00 price target on shares of Cytek Biosciences in a research note on Wednesday, March 19th. The Goldman Sachs Group set a $5.25 price objective on Cytek Biosciences in a research note on Sunday, February 2nd. Finally, Piper Sandler lowered their target price on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th.

Cytek Biosciences Company Profile

Cytek Biosciences, Inc, a cell analysis solutions company, provides cell analysis tools that facilitates scientific advances in biomedical research and clinical applications. It offers aurora and northern lights systems, which are spectrum flow cytometers that delivers cell analysis by utilizing the fluorescence signatures from multiple lasers to distinguish fluorescent tags on single cells; and aurora cell sorter system that leverages full spectrum profiling technology to further broaden potential applications across cell analysis; aurora CS systems; amnis imagestream imaging flow cytometers; guava muse cell analyzers; guava easycyte flow cytometers; and orion reagent cocktail preparation systems.